Brown Gibbons Lang & Company (BGL) announced the financial closing of the second phase at Residences at Valor Acres, part of a larger mixed-use development at Valor Acres in Brecksville, Ohio. BGL's Real Estate Advisors team served as the exclusive financial advisor to the DiGeronimo Companies in the transaction.
The development financing consisted of an acquisition and development loan with Huntington Bank, a vertical construction loan with Huntington Bank, and sponsor equity. Huntington Bank will finance 25 for-sale townhomes and duplex homes, a memorial park and a clubhouse.
Valor Acres, located off Interstate 77, provides new opportunities for the mixed-use development between Cleveland and Akron in northeast Ohio. In October 2020, the Sherwin-Williams Company purchased a portion of the land at Valor Acres to develop their new research and development center, bringing hundreds of high-paying jobs and an immediate need for new housing in the area. T
